LA County’s ugly draft budget sets aside $100M for housing efforts

L.A. County chief executive Sachi Hamai called the process “unlike any we’ve ever faced.”

TRD LOS ANGELES /
Apr.April 29, 2020 10:00 AM
L.A. County Chief Executive Sachi A. Hamai
L.A. County Chief Executive Sachi A. Hamai

Los Angeles County approved a $35.5 billion budget for the coming fiscal year, one that is shaping up to be its most challenging yet.

The fiscal year 2020-2021 budget included $50 million in one-time funding and $100 million overall set aside for various housing efforts including supporting affordable and extremely low-income housing, rental assistance, re-housing, and home-ownership services, according to the L.A. Times.

The budget process revealed the dire shortfall that county officials see on the horizon — $1 billion in lost tax revenue by the end of the fiscal year in June and another $1 billion through the end of the fiscal year 2020-2021. Overall, the budget reflects a $600 million cut in requirements from last year.

“We are in a profoundly challenging economic environment that may get worse before it gets better,” L.A. County’s chief executive officer Sachi Hamai said in a statement.

Hamai pointed to the uncertainty over the amount of financial assistance the county would receive from the state and federal governments.

The budget sets aside $430 million for homeless services and the county noted the pandemic’s impact on tax revenue would likely reduce the amount of tax-funded Measure H dollars available for addressing homelessness.

The county has taken up several measures designed to keep people in their homes, including what is effectively a temporary ban on evictions in unincorporated L.A. County.

The county is also using money from the federal stimulus packages and private sources to help pandemic-impacted workers make rent payments. [LAT] — Dennis Lynch


Related Articles

arrow_forward_ios
Howard Johnson at 7432 Reseda Boulevard and Hotel Solaire at 1710 7th Street

LA will buy mostly-vacant motels for Project Homekey

LA will buy mostly-vacant motels for Project Homekey
Assessor Jeffrey Prang

LA County property values may tumble in next tally: Assessor

LA County property values may tumble in next tally: Assessor
Tents in Los Angeles, California (Credit: APU GOMES/AFP via Getty Images)

LA officials cut $300M homeless housing deal

LA officials cut $300M homeless housing deal
L.A.’s office market continued to weaken through the third quarter

LA office market vacancy rises to 15% in Q3

LA office market vacancy rises to 15% in Q3
Donald Bren Hotel Irvine and Fashion Island Hotel (Credit: Anne Cusack/Los Angeles Times via Getty Images, and Google Maps)

Irvine Company’s 1,700 layoffs mostly hit staff at 3 hotels, resorts

Irvine Company’s 1,700 layoffs mostly hit staff at 3 hotels, resorts
Tim Naughton and a rendering of the project (Credit: OFFICEUNTITLED and AvalonBay)

AvalonBay secures $167M loan for Arts District resi project

AvalonBay secures $167M loan for Arts District resi project
Metropolis Los Angeles, and The Century Plaza

Surprise, surprise: LA condo sales are way up

Surprise, surprise: LA condo sales are way up
1.6 million square feet of office space was leased in L.A. in Q3

LA office market leasing fell 61% in Q3

LA office market leasing fell 61% in Q3
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...